Presidio Park Apartments

Multi-Family for Sale
Catylist Listing ID: 30042185
Property Subtypes: Low-Rise/Garden
Number of Units: 45 Units
Building Size (RSF): 45,290 SF
Gross Building Area: See Agent
Gross Land Area: 3.07 Acres
Sale Price: $7,650,000
Unit Price: $170,000 Per Unit
Property Use Type: Investment
Building Name: Presidio Park Apartments
Usable Size (USF): 45,290 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 5.65%
Average Occupancy Rate: 99
Last Updated: 12/5/2017

Overview / Comments

PRICE REDUCED! Presidio Park Apartments on Gerald Ford Drive Close to Rancho Mirage, located in Cathedral City,close to Hwy 111. The complex offers many amenities including swimming pools and spa on well-maintained grounds. Beautiful Spanish style architecture and mature trees in a plush, garden-like setting. Plenty of parking for each unit there are some assigned parking spaces for each unit. Gated community with onsite managers

45 unit, 2 story apartment buildings. All units are 2 bed/2 bath there are 17 larger corner units and 28 smaller. More than half have been renovated the kitchens, bathrooms, floor covering and painting more than $20,000. has been spent in these renovation. The complex is located 3/4 of a mile from the New Casino, that is being planned at the Cathedral City Government Center, there will be shopping and retail plus excellent dinning.

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 673-250-006
Zoning: RMS
Percent Occupied: 96%
Community Amenities: Outdoor Pool, Community Hot Tub, Tennis Courts, On-Site Maintenance
Property Located Between: Near the intersection of Date Palm Drive and Gerald Ford Drive
Highway Access: Approx 4 miles to Interstate 10 and just a few short blocks to Hwy 111. Date Palm Drive and Gerald Ford.
Airports: Palm Springs International
Site Description: 45 unit, 2 story apartment building. All units are 2 bed/2 bath. Approximately half have been renovated. Seller will credit buyer $300,000 to complete the renovations.
Area Description: Near the intersection of Date Palm Dr and Gerald Ford also close to Hwy 111 & approximately 4 miles to Interstate 10. Conveniently located near shopping, gym and restaurants.
Total Number of Buildings: 3
Property Condition: Good
Number of Stories: 2
Year Built: 1987
Construction/Siding: Stucco
Exterior Description: Two story Stucco 45 unit complex with tile room. Built in a part like setting with private entry gate, swimming pool, spa,
Parking Type: Surface
Parking Description: There are 50 Covered Parking Spaces, and 77 free Parking Spaces
Total Parking Spaces: 77
Laundry: Shared
Zoning Description: RMS
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,524 55,742 121,956
Median Age: 51.14 43.19 46.36
Households: 5,536 21,543 52,691

Sponsoring Organization

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